Tel Aviv, Dec 12, 2010

1. Poland – the EU front runner in terms of growth performance BRE - BRE Bank – best – in - class financial services’ provider in Poland Przemysław GdańskiBRE Bank Management Board Member Head of Corporate Banking Tel Aviv, Dec 12, 2010

2. Poland – the EU front runner in terms of growth performance

3. Key macroeconomic data – features of Polish economy Poland - the largest from EU new member states in terms of area and population is located at the heart of Europe at the crossroads of major communication corridors, became theEU front runner in terms of growth performance in 2009 as the global crisis wreaked havoc to European economies. With exports to GDP ratio at about 40% it can be classified as a relatively closed economy, which in times of the crisis turned out to be a blessing rather than a curse. Relatively smaller dependence (as compared to its regional peers) on foreign trade reduced the impact of foreign demand shock. Source: StatOffice.

4. BRE forecast Poland – the EU front runner amid the global recession… Poland’s GDP (%YoY) European Commission GDP forecasts (%YoY) BRE forecast Source: StatOffice, European Commission interim forecast (Sep’10), BRE forecast.

5. …currently notes dynamic rebound… Exports and imports (% YoY) Production in industry and construction (% YoY, wda*) Retail sales (%YoY) • Foreign trade increase stimulates Polish industry • Public investmentsustains growth in construction sector • Gradual stabilization on the labour market supports retail sales One-off effects of harsh winter * wda – working day adjusted. Source: NBP, StatOffice.

6. …based on recovering external demand from Germany Exports of Poland and Germany (% YoY) • Strong trade relations between Poland and Germany • Germany – the main recipient of Polish exports • Rebound in Germany boosted Polish economy Source: Bloomberg, NBP, Eurostat.

7. Financial markets have confidence in Polish assets Poland-Germany 10Y T-bond spread (bp) Non-residents’ participation in Polish T-bond market (PLN bn) 10Y T-bond yields (%) Non-residents’ participation in Polish equity market (PLN bn) Source: NBP, MinFin, Bloomberg.

8. Poland’s trade with Israel is rather limited … Main recipients of Polish exports (EUR bn, 2009) Main suppliers of Polish imports (EUR bn, 2009) Source: Eurostat.

9. … and characterized with the following structure Polish exports to Israel - decomposition (%, 2009) Polish imports from Israel - decomposition (%, 2009) • Main export goods: • vehicles • ships, boats • electrical machinery and equipment • Main import goods: • chemical products • arms, ammunition • electrical machinery and equipment Source: Eurostat.

10. Israeli investors’ engagement in Poland is low Poland’s liabilities resulting from FDI (EUR bn, 2008) FDI inflow to Poland - decomposition (EUR bn, 2008)* Possible underestimation due to investment through companies registered in other countries. Source: NBP.

11. Summary Poland – the only EU country without recession in 2009 Poland enjoys strong rebound, so far based mainly on external demand from Germany Polish assets enjoy strong confidence of financial markets Small trade volume between Israel and Poland Limited FDI inflow from Israel to Poland – room for improvement

12. BRE Bank – best – in - class financial services’ provider in Poland

13. BRE’s strong market position 3 rd By Total Assets 3 rd By Total Loans 4 th By Total Deposits Estimated position as of Q3 2010 (consolidated data)

14. BRE Bank Group – universal financial services’ provider for financial institutions, corporate customers, HNWI, retail clients

15. 127 167 131 83 135 101 55 84 45 33 62 48 33 55 39 35 45 33 27 43 26 13 41 24 28 36 14 19 27 20 BRE Bank at a glance A leading universal bank in Poland… …with a differentiated value proposition Retail Banking • Multi-brand, multi-channel approach attracting both young and affluent customers • Leading in internet banking • Physical network of retail branches, financial centres and mobile agents • Open-architecture “Investment Fund Supermarket” and insurance supermarket • Continuous product innovation Total assets (PLN B) Loans (PLN B) Deposits (PLN B) Corporates & Markets • Long-standing client relationships across large, medium-sized and small companies • Exclusively dedicated corporate branch and office network • Strengths across corporate and investment banking services • Innovative integrated transactional banking platform • One of the largest universal banking groups in Poland serving over 3.5M retail and 13,000 corporate customers • Strong Corporate and Investment banking business with 3rd/4th largest corporate deposit/loan portfolio in Poland • Dynamically growing Retail Banking business with 3rd/6th largest retail loan/deposit portfolio in Poland Source: BRE Group 3 Q 2010 consolidated financial statements, 3 Q 2010 consolidated financial statements of the banks, Rzeczpospolita

16. Strong Corporate and Investment Banking Business • 13 thousand customers covered by 200 relationship managers in branches and headquarters • Renowned corporate banking internet platform iBRE • The best integrated bank corporate platform of 2009 in CEE(a) • New customer relationship management (“CRM”) system supports cross selling and upselling activities • Analysis of clients’ potential requirements • Planning and monitoring of sales activities • Transactional banking services available through MultiBank branches (appeal to SMEs) Exclusively dedicated physical distribution network Integrated and advanced sales approach Leading, comprehensive ‘one-stop shop’ product offering in Poland Transactional banking innovative and tailored products Securities sales and trading leading market making positions (eg IRS/FRA, FX) Short term and long term financing fourth largest corporate loan portfolio Corporate Banking Structured and mezzanine finance services Debt origination market shares in non-government debt >20% Trade Finance Products Largest specialized mortgage bank (BRE Bank Hipoteczny) Investment Banking Brokerage a leader in brokerage and investment advisory (DI BRE) Leasing No 2 with 9% market share (BRE Leasing) Factoring market share ~14% (Polfactor) • Highest award in the „World’s Best Internet Bank“ (Global Finance) in the category of “the best integrated bank corporate platform of 2009” in CEE region • Source: Company data

17. Transaction Banking - fully fledged product range well fitting to dynamic & expanding companies Advisory services and suport Deposits (incl automated O/N) LCY and FCY payments (incl.SEPA); individual and mass payments Mass payments identification and reconciliation Cards incl. prepaid Accounts Liquidity management Zero / target balancing Pooling Direct debit Cash disbursements Physical cash processing Cash Deposits / transports Postal order and other settlements Short term financing (receivable discounting). Receivable management Disbursements management Electronic/internet baking (iBRE) Reporting/intergration services

18. Transaction Banking - comprehensive catalogue of products & services satisfying the most complex businesses

19. iBRE – universal, integrated solution facilitating management of entire company’s financials iBRE – Internet financial platform aggregating all financial services, within one access channel • Transactional Banking Services • Account management • LCY and FCY payment management • Cash Management orders management • Other Banking Services • Letters of credit, bank guarantees, collections • Treasury • Custody services • Information management • Customized reporting & analyses • Electronic invoices and debt discount

20. iBRE – universal, integrated solution facilitating management of entire company’s financials • Treasury* • FX Spot • FX forward • FX Swap • IR SWAP • Real-time quoting • eDeposits • Tenor declared by the client • Current and customized rates

21. BRE’s products & services in practice – x’border client case Border One of the leading logistic companies operating in over 100 countries with its headquarter in Western Europe’s country and subsidaries in Poland. Group Revenue : ca. EUR 30 bn Revenue in Poland: PLN 3 bn

22. BRE’s products & services in practice – x’border client case(continued) Client’s expectations: cash collections and withdrawals invoices’s and pay-roll and payments (LCY and FCY) consolidation of financial means of the group enabling effective management of group liquidity automated financial data exchange between the company and the bank guarantees credit and pre-paid cards • BRE Bank solutions offered to the client: • cash operations – cash collections and withdrawals • iBRE-internet based transactional system • domestic, international payments and additional, complex cash management solutions • international cash pooling • comprehensive, fully automated financial data exchange – client’s financial system itegrated with iBRE platform • comprehensive Trade Finance solutions • wide range of payment and credit cards incl. pre-paid cards

23. Selection of awards and distinctions 2010 • iBRE platform - thewinner in five categories of prestigious international contest „World Best Internet Banks 2010” run by Global Finance magazine: • Best Corporate/Institutional Internet Bank Central & Eastern Europe • Best Corporate/Institutional Internet Bank Poland • Best Integrated Corporate Bank Site Central & Eastern Europe • Best Consumer Internet Bank - mBank Czech Republic • Best Integrated Consumer Bank Site – mBank and Multibank Central & Eastern Europe

24. Selection of awards and distinctions 2010 Award of Euromoney Magazine 2010: The Management Board won the second place in the category „Bank with most accessible Senior Management”